SOURCE: Gottaplay Interactive, Inc.

December 06, 2006 09:00 ET

Gottaplay Interactive, Inc. Signs LOI to Acquire GamerShare, LLC

GamerShare's Peer-to-Peer Trading Platform Will Allow Gamers an Alternative Way to Play Video Games Worldwide

GIG HARBOR, WA -- (MARKET WIRE) -- December 6, 2006 -- Gottaplay Interactive, Inc. (OTCBB: GTAP) announced today that it has signed a non-binding Letter of Intent to acquire the assets of GamerShare, LLC, a Pennsylvania-based corporation involved in the online video game industry.

GamerShare's website (www.gamershare.com) enables video game players to submit their used video games and trade them with other members. GamerShare's unique user interface makes it easy for video game enthusiasts to trade their games quickly and cost effectively.

"The GamerShare acquisition provides us with the opportunity to introduce our existing database of customers to this creative alternative method to acquire video games. There is a great deal of synergy between Gottaplay and GamerShare and we see this as an ideal fit. We anticipate we can increase GamerShare's existing membership without any significant addition to our fixed costs," said John Gorst, Gottaplay's CEO.

"There are over 70 million game consoles and hundreds of millions of used games, which potentially can be traded between Gottaplay members worldwide. The video gaming industry is growing at a rapid pace and we believe we can create some phenomenal marketing opportunities through this acquisition," Mr. Gorst added.

Once acquired, GamerShare is expected to be operated by Gottaplay Trading Corporation, a wholly owned subsidiary of Gottaplay Interactive, Inc. Sidney Price, founder of GamerShare, will lead the trading subsidiary on a forward-going basis. "GamerShare's model is an ideal fit for the Gottaplay family. I expect membership growth will increase as a result of this merger. We are very pleased that Gottaplay also has plans to further develop and enhance the GamerShare service offering," said Mr. Price.

The transaction will be a combination of cash and common stock of Gottaplay and terms were not disclosed. The closing of the transaction is subject to final due diligence by the Gottaplay management and approval by Gottaplay's Board of Directors, both of which are expected to be completed by December 31, 2006.

About Gottaplay Interactive, Inc.

Gottaplay Interactive is a leading online gaming rental company. It features free home delivery and unlimited access to an extensive gaming library for a flat monthly fee. No due dates, no late fees. It is simple, economical and convenient. Games are delivered by mail throughout the U.S. from a host of regional distribution centers.

About GamerShare

GamerShare is the premier online peer-to-peer (P2P) destination exclusively dedicated to trading video games. The service offers an alternative way to play all of the video games a gamer wants through an interactive trading platform. Members can legally trade and swap video games in the most cost-effective way with no limits or rental subscription fees -- Play Your Way.

Forward-Looking Statements

Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • Investor Inquiries Contact:

    Capital Group Communications, Inc. ("CGC")
    Richard Carpenter or
    George Carpenter
    Tel: 415-332-7200
    Email: Gottaplay@capitalgc.com